Q3/11 Financial Performance and Outlook
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Net Interest Margin
1.75% 1.75%
1.68%
1.68% 1.67%
Q3/10 Q4/10 Q1/11 Q2/11 Q3/11
Scotiabank
Q3 Margin impacted by
Higher volumes of low spread deposits
•
Higher trading profit in Scotia Capital
⚫ Wider spreads in Chile, Mexico and Asia
⚫ Lower gains from financial instruments
Canadian Banking: Competitive Environment
Revenues (TEB)
($ millions)
1,549
1,577
1,498
390
406
352
1,143
1,146
1,187
Q3/10
Q2/11
■Commercial Banking
Retail & Small Business
Q3/11
•
Scotiabank
Year-over-Year
Retail & Small Business
+ Deposit growth
+ Growth in residential mortgages and consumer
auto loans
- Ongoing shift in mortgage portfolio to lower
margin variable rate mortgages
Commercial Banking
- Lower net interest income
+ Deposit growth
Quarter-over-Quarter
Retail & Small Business
+ Higher volume of residential mortgages
- Continued competitive pressures
Commercial Banking
+ Higher credit fees
+ Longer quarter
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